Fewer people are spoken or speculated about more than Donald Trump these days. With so much buzz surrounding him, it’s difficult to determine fact from fiction when it comes to Trump and his various business ventures. One such Trump property is Trump Plaza in Atlantic City, New Jersey. Many are wondering is Trump Plaza still open? While the 45th president can be evasive, the fate of Trump Plaza is known to journalists and the general public. Trump Plaza is not still open; the casino and hotel complex closed in 2014. But why did Trump Plaza go out of business?
Is Trump Plaza still open?
Harrah’s at Trump Plaza opened on Atlantic City’s famed boardwalk on May 14, 1984. The name was changed to Trump Plaza later that year. It operated as Trump Plaza for another 30 years before closing in 2014. So after decades in operation, what led to Trump Plaza closing?
The Atlantic City boardwalk peaked in the 1920s as a resort town famous for drinking, gambling and other vices. By the 1980s, the boardwalk was in the shadow of its former glory and in need of revival. Several casinos began opening in an attempt to draw back tourists and drive revenues. In addition to the gaming facilities, Trump Plaza contained a luxury hotel which included a spa, several restaurants and a gym.
However, this plan to economically invigorate the boardwalk turned out to be unsustainable.
Along with several other similar casinos around that time, Trump Plaza closed in 2014. The building had been planned to be demolished but several demolition deadlines have already passed but nothing has been done.
While Trump Plaza’s closure does not seem to have impacted its namesake’s bottom line, unfortunately over 1,000 people lost their jobs as a result. More people connected to one of Trump’s businesses lost their jobs later that year when his Taj Mahal Casino and Hotel also closed.
Did Trump Plaza Close or Go Bankrupt?
Trump Plaza Hotel and Casino both closed and went bankrupt but not in as straightforward a manner as one might imagine. Although closure and bankruptcy often go hand in hand, that is not necessarily the case. Vox explains how “while bankruptcy can result in the liquidation or sale of a company, it also presents an opportunity for it to restructure while continuing to operate, suspend or reconfigure debt payment, and get back on its feet, so to speak. That was the case for United, Delta, and American, which all exited bankruptcy in less than four years. Since 2017, we’ve seen a wave of once-powerful retailers going the same route, like Sears, Mattress Firm, the clothing brand BCBG, and the accessories chain Claire’s.”
Trump Plaza followed a similar approach to these bankrupt but still operating businesses. It filed for bankruptcy in 1992 but remained open for business for more than two decades after. Unfortunately, it seems that like the other closed luxury casinos in Atlantic City, Trump Plaza could not stay afloat.
